The shake-up in the RBS boardroom ticks several boxes. It certainly beefs up the banking experience of the non-executive contingent. Stephen Hester brings investment banking nouse, plus experience of clearing out the Augean stables at Abbey. John McFarlane provides plenty of retail banking and Asian savvy, while Art Ryan boosts the board's US wisdom.

The changes will also help address the concern that the non-execs weren't independent enough. The departures of Larry Fish and Bud Koch mean there are now no former executives on the board. In terms of sheer numbers, the indies will now outnumber chief executive Sir Fred Goodwin and his colleagues 12 to five.

The reconfiguration also gives RBS a few more options peering further forward. McFarlane, who came away from 10 years running ANZ with his reputation as a safe pair of hands in tact, could be a credible candidate to succeed chairman Sir Tom McKillop. And he is a Scot, which - rightly or wrongly - may still count for something in Edinburgh.

Hester, who is well liked and well connected in the City, should act as a good lightning rod for institutional concerns, supplementing the existing senior independent director Bob Scott.

But shareholders looking for a heavyweight bruiser with the stature, breadth and personality to lead the charge in carpetting, or indeed ousting, Sir Fred if it proves necessary may be a bit disappointed.

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